Good evening to you all folks.

Here is the video update from earlier, its a long one!

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD is still dropping along the lower trend channel line this evening,
despite a small reversal higher yesterday it seems that wave (c) of [a] is still tracing out the last few subwaves to complete three waves down.

I am expecting wave [b] to begin soon with a three wave reversal higher towards that 1.1800 level at the 50% retracement.
But we will have to wait for next week for that to begin now.

Monday;
watch for wave [a] to complete and for a reversal to come in by the end of Monday.
A break above 1.1700 will signal wave (a) is underway.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Waves ‘i’ and ‘ii’ of (iii) are complete at the early morning highs today.
Cable has fallen off that wave ‘ii’ high,
but so far the move lower into wave ‘iii’ of (iii) is less than inspiring!
If the price picks up momentum to the downside on Monday,
that should signal wave ‘iii’ down is underway.

Monday;
1.2865 must continue to hold,
watch for wave ‘iii’ of (iii) to accelerate lower towards 1.2400 again.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is moving higher again today in wave (iii) blue as per the primary count.
I have also shown a possible alternate count circled in red this evening.
I would like to see wave (iii) continue to push up above 106.55 over the coming days,
but if the price falls back below 105 again,
that will trigger the alternate count.

Monday;
Watch for wave (iii) of [i] to complete five waves up with a break of 106.
105.08 must hold.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The recovery in the market today is following the larger wave ‘ii’ flat pattern that I mentioned in the video earlier.
In this scenario wave ‘ii’ will complete with a break of 27091 early on Monday.
Then wave ‘iii’ of (iii) to the downside will kick off and fall down below 26000 to complete.

A decline of 1000 points used to be a big deal 10 years ago,
now its just a small acceleration within a minor wave count!
Now thats inflation for you!

Monday;
The pattern now shows a series of three impulse waves lower when wave ‘ii’ completes.
This is a very dangerous point for the structure if this count is correct.
the market has declined without much fanfare so far,
I suspect wave [iii] down will change that and cause some serious screaming on bubble TV!

Watch for the high at wave (ii) of 27500 to hold.
Any weakness off the wave ‘ii’ high will be a signal that wave ‘iii’ of (iii) is beginning.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has done absolutely nothing today which indicates that we are still stuck within a corrective pattern.
The primary wave count label’s this action as wave (iv) of [c].
With one more drop into wave (v) to complete wave [c] over the coming days.

There is still a chance that we will see a rush lower in wave (v) towards that lower trend channel line.
That gives a low end target at 1700.
If we see that action transpire then I will move the wave count up by one degree as per the alternate count.

Monday;
I suspect wave (v) will get underway by Tuesday at the latest.
Watch for a three wave correction in wave (iv) to complete by Monday evening.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

After todays action I am looking at the larger wave (ii) scenario for this lower high.
The price has grinded sideways this whole week into todays top.
And we can view the move as a three wave correction with and expanded flat correction in wave ‘b’.

If wave (ii) is now complete at the high today of 40.66,
then next week should bring in wave (iii) down.
Wave (iii) will be confirmed with a break of 38.85.

Monday;
Watch for wave (iii) down to begin with a break of that 38.85 low.
41.69 must hold.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P has traced out a flat correction in wave ‘ii’ today.
The market has made a slight new high this evening completing the pattern at the upper trend channel line.
This pattern now completes a three wave correction to a lower high,
and just like the dow,
we have a series of three impulsive steps lower in place off the high.

If this count is correct,
then we will see a sharp reversal lower into wave ‘iii’ of (iii) early next week.

Monday;
watch for wave ‘iii’ down to begin with a break of 3210 again by Monday evening.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has moved lower today in three waves off the wave [a] high at 23.33.
This decline is labelled wave [b] of ‘4’
so we should see another rise early next week in wave [c] up to about 23.60 or so.
Once wave ‘4’ is complete,
wave ‘5’ will be set to fall again into the lower trend channel line at about 21.00.

Monday;
Watch for a three wave correction to complete in wave ‘4’ red.

May the Lord send His Blessings to you all for the weekend ahead. Thank you from the bottom of my heart for hanging on with me this week.

I will talk to you all again on Monday evening to tackle this market again.

Shalom to you all.

enda.